New Delhi: By June 19, the gross direct tax collection during the financial year increased to Rs 5,45,207 crore. The first one of the four installments of advance tax receipts increased to 3.9%, causing the fear of rapid recession in the increase in corporate profits during the June quarter.On a net basis, the direct tax collection was 1.4% lower, less than Rs 4.6 lakh crore, but it was due to a jump of 58% in the refund, with Rs 58,385 crore. Amidst the clear missile of Spike Finance Minister Nirmala Sitarman at the refund, the officers do not sit on the refund, a message that he gave to the brass on Friday and which is likely to be repeated to the top income tax authorities in the coming week.Typically, advance tax payments are seen as a barometer of corporate health with some individuals. Personal tax changes may also play a role. “The individual tax rates have declined by revising the slab and from April 1, 2025, which has brought relief to salaried persons, and it naturally reflected in low TDS collections. On the corporate front, we are looking at the impact of increased capital expenditure by businesses.In recent months, the slowdown in industrial production has been observed, although the GST number has been stable.“Tax collection for the recent quarter, while in control, put a spotlight on the emerging macro trend to earn development for corporates and de non-corporate taxpayers for the financial year. In addition, currently many elements of geopolitical landscapes play out in the next few months, the effect of development is also a shock for the rest.
